define premium - Search
  1. Dictionary

    pre·mi·um
    [ˈprēmēəm]
    noun
    premium (noun) · premiums (plural noun)
    1. an amount to be paid for an insurance policy.
    2. a sum added to an ordinary price or charge:
      "customers are reluctant to pay a premium for organic fruit"
      • a sum added to interest or wages; a bonus.
      • relating to or denoting a commodity or product of superior quality and therefore a higher price:
        "premium beers"
      • stock market
        the amount by which the price of a share or other security exceeds its issue price, its nominal value, or the value of the assets it represents:
        "the fund has traded at a premium of 12%"
    3. something given as a reward, prize, or incentive:
      "the Society of Arts awarded him a premium"
    Origin
    early 17th century (in the sense ‘reward, prize’): from Latin praemium ‘booty, reward’, from prae ‘before’ + emere ‘buy, take’.
    Translate premium to
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    Similar and Opposite Words
    noun
    1. an amount to be paid for an insurance policy.
      insurance charge
      insurance payment
      regular payment
    2. a sum added to an ordinary price or charge:
      additional payment
      extra amount/charge
      additional fee
    3. something given as a reward, prize, or incentive:
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  2. People also ask
    What is an example of a premium?a prize or bonus given, for example, when purchasing a product, as a way of increasing sales: The premium was a little gadget to hold your toothbrush. Business the amount paid in installments by a policyholder for coverage, as for insurance: Car insurance premiums have skyrocketed. great value: puts a high premium on loyalty.
    What is the meaning of 'premium'?Premium definition: 1. an amount that is more than usual: 2. an amount of money paid to get insurance: 3. the highest...
    Is 'premium' a noun or an adjective?When used as a noun,\ premium means the money you pay each month for your car insurance or a charge that's added on top of a standard payment. It also means a prize or reward. As an adjective,\ 'premium' implies something of superior quality that probably costs more too.
    What is an insurance premium?An insurance premium is the purchase price of an insurance policy or the regular payments required by an insurer to provide coverage for a defined period of time.
     
  3. Premium Definition & Meaning - Merriam-Webster

     
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